You are here: Home - News -

The Mansfield extends select buy to let to 75% LTV

  • 03/01/2017
  • 0
The Mansfield extends select buy to let to 75% LTV
Mansfield Building Society has launched a buy-to-let range up to 75% loan-to-value (LTV) and updated its rental income criteria in response to the Prudential Regulation Authority’s (PRA) new underwriting standards.

The new range includes a three and five-year fixed rate as well as some two and three-year discounted rate products.

For house purchase and remortgage with additional borrowing the lenders has confirmed that rental income must now be at least 145% of monthly mortgage interest calculated at 5.5% with the exception of five-year fixed rates, which requires rental income to be at least 130% of the monthly mortgage interest calculated at 5%.

The mutual’s existing FCA regulated family buy-to-let product and its consumer buy-to-let mortgages remain available up to 70% LTV. Rental income requirements for these mortgages remain unchanged at a minimum 130% of the monthly mortgage interest calculated at 5%. The society will also use this rental income calculation in all instances where remortgages have no additional borrowing.

The lower rental calculation remains for five-year fixed rates and the lender’s family buy-to-let product.

National development manager, Steve Walton, said that meeting the new regulatory standards was the catalyst for the society to review and improve its overall buy-to-let proposition.

“Responding to the latest PRA requirements does not necessarily mean that lenders cannot continue to offer flexibility and choice. We wanted to make sure that we have the right criteria and products available for our broad buy to let customer base. By raising our maximum loan to value to 75%, brokers and their clients will benefit from increased product availability,” he said.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Basel Committee stalls on capital adequacy changes

Stricter capital rules for European banks which include requirements for riskier mortgage lending have been delayed by the Basel Committee...